E-commerce is ‘fastest-growing portion of our business,’ President Christopher Testa says
Strategic initiatives, new business, and strong retail and e-commerce performances boosted results at United Natural Foods Inc. (UNFI) for its fiscal 2021 first quarter.
For the quarter ended Oct. 31, net sales totaled $6.67 billion, up 6% from $6.3 billion a year earlier, UNFI said Wednesday.
“We delivered another quarter of strong financial results. First-quarter sales grew 6%, and first-quarter adjusted EBITDA grew 31%, resulting in a 45-basis-point expansion in adjusted EBITDA margin,” Chairman and CEO Steven Spinner told analysts in a conference call. “With the strength we have shown during the last three quarters, the tremendous confidence we have in our company and our strong commitment to increasing shareholder value, it’s clear to us that the best days for UNFI lie ahead, as we continue to build and optimize our DC network, expand our brands, win new business and